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TMI Blog2013 (9) TMI 1059X X X X Extracts X X X X X X X X Extracts X X X X ..... directed against two separate orders passed by Ld. CIT(A)-14, Mumbai dated 27/04/2012 for assessment years 2008-09 and 2010-11 respectively. 2. It was submitted by Ld. AR that the issue raised by the revenue is covered in favour of assessee by the decision of ITAT dated 3/6/2013 in ITA No.695/Mum/2012 and CO No.6/Mum/2013 in the case of M/s. Wadhawa Associates Realtors Pvt. Ltd., wherein the appeal filed by the revenue was dismissed and CO filed by the assessee was considered to be infructuous. Copy of the said order was placed on our record and later on other benches of Mumbai Tribunal also followed the same and reference was made to the following decisions: 1. ITO (OSD) (TDS) 3(2) vs. Shree Naman Developers Ltd. Others order da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for additional built up area To MMRDA Rs.39,18,30,000 2. Tax u/s. 201(1) ₹ 4,03,58,490 3. Interest under section 201(IA) ₹ 1,04,,93,207 4. Total tax liability ₹ 5,08,51,697 4. After hearing both parties we found that the issue is covered by the aforementioned decision of ITAT. For the sake of completeness the relevant portion of order passed in the case of ITO vs. M/s.Wadhawa Associates Realtors Pvt. Ltd.(supra) is as under: 9. We have considered the rival submissions, perused the order of the lower authorities and the material evidence brought on record in the form o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by increased the FSI of the entire 'G' Block of BKC. The Development Control Regulations for BKC specify the permissible FSI. Pursuant to such provisions, the assessee became entitled for additional FSI and has further acquired/purchased the additional built up area for construction of additional area on the aforesaid plot. Thus the assessee has made payment to MMRD under Development Control for acquiring leasehold land and additional built up area. The decisions of the Tribunal in the case of M/s. National Stock Exchange (supra) and Mukund Ltd (supra) have been well discussed by the Ld. CIT(A) is his order. The decision of the Hon'ble Jurisdictional High Court in the case of Khimline Pumps Ltd. (supra) squarely and directly app ..... X X X X Extracts X X X X X X X X Extracts X X X X
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